VISION TECHNOLOGIES INTERNATIONAL COMPLETES PRIVATE PLACEMENT
COLORADO SPRINGS, Colo., April 24 /PRNewswire/ -- Vision Technologies International ("the company") announced today that it has completed a private placement transaction of its restricted common stock in order to provide for future financing and to enhance the company's financial position and assist the company in its continued efforts with respect to identifying potential merger or acquisition candidates.
The company sold 2 million restricted common shares of its stock to a private investment company for $250,000 in installment payments to the company. The shares are restricted from resale in the public market for at least two years and have additional restrictions attached to the transaction.
The company also announced that it plans to seek additional private financing and is entering into discussions with various placement agents to determine the viability of such financing in the current market environment. Given the company's continued weak financial position, the company is evaluating and analyzing its ability to seek an additional equity infusion in order to provide for the ability to purchase certain assets or technologies of prospective companies as well as to enable the company to pursue certain potential merger situations that the company believes would benefit its shareholders. The company cannot be assured that such financing or potential business combinations can be successfully completed.
-0- 4/24/92
/CONTACT: Mark Snyder of Vision Technologies International, 719-578-3335/ CO: Vision Technologies International ST: Colorado IN: SU:

EH-JL -- LA003 -- 2534 04/24/92 14:06 EDT

COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.